FY2025 EPS Estimates for CareTrust REIT Reduced by Wedbush

CareTrust REIT, Inc. (NASDAQ:CTRE) – Research analysts at Wedbush lowered their FY2025 earnings estimates for shares of CareTrust REIT in a report released on Tuesday, February 18th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings per share of $1.71 for the year, down from their previous forecast of $1.72. Wedbush has a “Underperform” rating and a $26.00 price objective on the stock. The consensus estimate for CareTrust REIT’s current full-year earnings is $1.72 per share.

Separately, BMO Capital Markets cut CareTrust REIT from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $34.00 to $32.00 in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.67.

CareTrust REIT Trading Down 0.9 %

Shares of CTRE opened at $25.63 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.82 and a current ratio of 3.82. CareTrust REIT has a 52-week low of $22.46 and a 52-week high of $33.15. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 1.26 and a beta of 1.09. The business’s fifty day moving average is $26.81 and its 200-day moving average is $28.88.

CareTrust REIT (NASDAQ:CTRE) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). CareTrust REIT had a net margin of 42.22% and a return on equity of 5.59%. During the same quarter in the prior year, the firm earned $0.25 earnings per share.

Hedge Funds Weigh In On CareTrust REIT

Several large investors have recently bought and sold shares of CTRE. JPMorgan Chase & Co. raised its holdings in CareTrust REIT by 381.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,878,379 shares of the real estate investment trust’s stock valued at $212,267,000 after buying an additional 5,448,904 shares during the last quarter. Eagle Asset Management Inc. increased its position in CareTrust REIT by 22.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 428,699 shares of the real estate investment trust’s stock valued at $13,264,000 after acquiring an additional 78,560 shares during the period. Raymond James & Associates raised its stake in shares of CareTrust REIT by 10.6% during the third quarter. Raymond James & Associates now owns 684,971 shares of the real estate investment trust’s stock valued at $21,138,000 after acquiring an additional 65,756 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of CareTrust REIT during the third quarter worth $7,475,000. Finally, Principal Financial Group Inc. grew its stake in shares of CareTrust REIT by 5.2% in the third quarter. Principal Financial Group Inc. now owns 838,306 shares of the real estate investment trust’s stock worth $25,870,000 after purchasing an additional 41,623 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.29 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.16 dividend on an annualized basis and a yield of 4.53%. CareTrust REIT’s payout ratio is presently 146.84%.

About CareTrust REIT

CareTrust REIT, Inc’s (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.